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Wildhorse Ltd . , a private company based in Vancouver, decided to sell its Industrial Design Division. After two years of losses and heavy competition,
Wildhorse Ltd a private company based in Vancouver, decided to sell its Industrial Design Division. After two years of losses and heavy competition, a plan to dispose of the division was put in place. At the end of the plan was finalized and approved by the board of directors. The sale is anticipated to be completed by June Other information: Wildhorse's aftertax income excluding the results from the Industrial Design Division was $ During the year, the division reported an aftertax loss of $revenues: $ expenses: $ Management estimates that aftertax legal fees of $ as well as aftertax severance payments of $ will be required to finalize the disposal plan. A portion of these costs is expected to be offset by the aftertax proceeds of $ from the sale of the division's assets. Assuming the Industrial Design Division qualifies for treatment as a discontinued operation, prepare a partial income statement for Wildhorse for The statement should begin with income from continuing operations.
Wildhorse Ltd a private company based in Vancouver, decided to sell its Industrial Design Division. After two years of losses and heavy competition, a plan to dispose of the division was put in place. At the end of the plan was finalized and approved by the board of directors. The sale is anticipated to be completed by June
Other information:
Wildhorse's aftertax income excluding the results from the Industrial Design Division was $
During the year, the division reported an aftertax loss of $revenues: $ expenses: $
Management estimates that aftertax legal fees of $ as well as aftertax severance payments of $ will be required to finalize the disposal plan. A portion of these costs is expected to be offset by the aftertax proceeds of $ from the sale of the division's assets.
Assuming the Industrial Design Division qualifies for treatment as a discontinued operation, prepare a partial income statement for Wildhorse for The statement should begin with income from continuing operations.
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